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| ▲ The benchmark Korea Composite Stock Price Index (KOSPI) is displayed on a screen in a dealing room of Hana Bank in Seoul on Jan. 6, 2026, after having surpassed the 4,500 mark for the first time. (Yonhap) |
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| ▲ This composite photo shows the logos of Samsung Electronics Co. and SK hynix Inc. (Yonhap) |
(News Focus) KOSPI-new high
(News Focus) KOSPI set to further rise after topping 4,500 mark for 1st time: experts
By Kang Jae-eun
SEOUL, Jan. 6 (Yonhap) -- South Korea's key stock index reached a historic landmark Tuesday, surpassing the 4,500 mark for the first time in history, while another milestone may be in the offing on the back of corporate earnings momentum and policy backup, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) shot up 67.96 points, or 1.52 percent, to a record high of 4,525.48.
It comes a day after the KOSPI broke the 4,400 level, following its 76 percent gain last year.
"The KOSPI rose almost 6 percent in the first two sessions of the new year. It is rewriting history every day," Han Ji-young, an analyst from Kiwoom Securities, said in a report.
This year's rally was led by a sharp gain in the top two chipmakers -- Samsung Electronics and SK hynix -- along with leading automakers and brokerages.
Top market cap Samsung Electronics closed at a record high of 138,900 won (US$96), while its rival SK hynix finished at 726,000 won, also shattering its previous high on record.
Samsung had advanced 7.5 percent in the first two sessions of the year before Tuesday, while SK hynix rose 2.96 percent.
Last year, the two chip giants had more than doubled and tripled, respectively, on an artificial intelligence (AI)-led chip boom.
Some experts say the KOSPI may move up as high as 5,000 or even beyond this year amid continued demand from foreign investors and upward earnings momentum.
Local brokerages, too, have revised up their KOSPI forecasts.
Yuanta Securities on Tuesday raised its KOSPI target from the 3,800-4,600 range to 4,200-5,200. Kiwoom Securities also raised its KOSPI forecast to up to 5,200 points.
The experts believe the market will likely get a further boost from increased corporate earnings and policy backup.
Global investment banks have noted the combined annual operating profit of the two local chipmakers may exceed 300 trillion won this year.
"Thanks to the semiconductor sector, we may see an unprecedented earnings rally in the South Korean stock market," said Han, the analyst from Kiwoom Securities.
Currently, the market consensus for Samsung's 2026 operating income stands at 98 trillion won, and 85 trillion won for SK hynix.
Others, however, raised concerns of market volatility increasing amid uncertainties surrounding the Federal Reserve's policy direction.
The upcoming U.S. midterm elections and renewed geopolitical uncertainties stemming from the recent U.S. capture of Venezuelan President Nicolas Maduro may present downside risks, according to Kim Young-gu, an analyst from Yuanta Securities.
"President Donald Trump's initiative to return to the Monroe Doctrine could worsen geopolitical uncertainties," Kim said. "The momentum from the 'Trump Trade' could also simmer if the republicans in the United States experience a crushing defeat in the November elections."
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